Section 32.11.100. Admission of limited partners.

Latest version.

   (a) A person becomes a limited partner
        (1) at the time the limited partnership is formed; or
        (2) at a later time specified in the records of the limited partnership for becoming a limited partner.
   (b) After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner
        (1) in the case of a person acquiring a partnership interest directly from the limited partnership, upon compliance with the partnership agreement or, if the partnership agreement does not provide, upon the written consent of all partners; and
        (2) in the case of an assignee of a partnership interest of a partner who has the power under AS 32.11.350 to grant the assignee the right to become a limited partner, upon the exercise of that power and compliance with conditions limiting the grant or exercise of the power.

Notes

History

(Sec. 6 ch 87 SLA 1994)

                    
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